The Southern California Home Financing Authority’s (SCHFA) First Home Mortgage Program provides a 4% down payment assistance grant for first time homebuyers in Orange County, California. The SCHFA homebuyer assistance program is a true first time homebuyer grant that will help eligible buyers in Orange County, CA and Los Angeles County overcome the largest obstacle to buying […]
President Obama announced the Making Homeownership More Accessible and Sustainable directive that requires the Federal Housing Administration to reduce it’s FHA monthly paid Mortgage Insurance Premium (MIP) by .5%. HUD Press Release Mortgagee Letter 2015-01 By reducing the FHA MIP, the Government is making FHA financing more affordable with the goal of boosting homeownership to normal levels […]
2015 Real Estate Market Predictions are in. Four of Riverside County’s top real estate and mortgage experts predict what to expect for our local housing market for 2015. We all have questions, right? Will mortgages rates go up? Will home prices remain stable, go down, or appreciate? Will it be a sellers or a buyers […]
Fannie Mae has expanded the maximum loan-to-value up to 97% LTV for their Conventional 97 mortgage program. This means home buyers will only need a 3% down payment to benefit from Conventional financing. The standard Conventinal 97 program is perfect for first time homebuyers in California who have decent credit and simply want an affordable […]
California’s 2015 VA Maximum Loan Guaranty Limits were just announced by the Department of Veteran Affairs. The new loan limits reduce our Veterans loan purchasing power by as much as $424,500 in 11 of California’s high cost counties. See VA Circular 26-14-39 for details. What media outlets are not reporting is that the VA county […]
The 2015 conforming and jumbo loan limits in Riverside County, California (includes San Bernardino/Inland Empire) for Conventional (Fannie Mae & Freddie Mac), FHA, USDA, and VA financing remain stable with little to no changes from the previous year. Loan Limits updated for 2018 view here If you need to finance a home purchase or refinance a […]
What is the HomePossible Advantage Mortgage Program? The HomePossible Advantage Mortgage Program (HPA) is a new 3% down payment (97% LTV) Freddie Mac Conventional mortgage program designed to make homeownership more accessible and affordable for credit worthy borrowers throughout California who have a limited down payment savings and moderate incomes. The Home Possible Advantage home loan is an […]
